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Scilex Holding Company, a majority-owned subsidiary of Sorrento Therapeutics (SRNE), completed its business combination with Vickers Vantage. Approximately 80% of Vickers shareholders approved the merger, which transitions Scilex to a publicly traded entity on Nasdaq under the symbols SCLX and SCLXW starting November 11, 2022. This move enables Scilex to leverage public market resources for growth, focusing on non-opioid pain management therapies and enhancing its product pipeline, including FDA-authorized products and upcoming candidates.
The SEC declared the effectiveness of Vickers Vantage Corp. I's registration statement for a business combination with Scilex Holding Company, scheduled for a shareholder meeting on November 9, 2022. The combined company will be renamed Scilex Holding Company and will trade on Nasdaq under the symbols SCLX and SCLXW. The transaction could generate up to $100 million in gross cash proceeds, assuming no shareholder redemptions. This merger aligns with Scilex's focus on non-opioid pain management products.
Sorrento Therapeutics has completed a Phase 1 study of STI-1558, an oral Mpro inhibitor, involving 58 healthy volunteers in Australia. The study evaluated single and multiple ascending doses (SAD & MAD), confirming dose-proportional pharmacokinetics. Notably, the 600 mg BID dose achieved significant trough concentrations above the EC90 for viral inhibition without adverse events. Global Phase 2/3 trials are planned in the US, Mexico, and China for COVID-19 treatment. The results support the potential of STI-1558 as a standalone therapy.
Sorrento Therapeutics, Inc. (Nasdaq: SRNE) announced the publication of data in Med journal that reveals STI-9167 neutralizing antibody efficacy against various SARS-CoV-2 variants, including Omicron subvariants. The study showed protective effects against Omicron-related disease in a preclinical model following intravenous or intranasal administration of STI-9167. This research underscores Sorrento's commitment to developing innovative treatments for COVID-19 as part of its broader therapeutic portfolio.
Sorrento Therapeutics (Nasdaq: SRNE) announces a KOL Panel Discussion on October 12, 2022, at 10:00 am ET, focusing on the unmet needs in non-small cell lung cancer. Dr. Mike A. Royal, the Chief Medical Officer, will discuss the potential of abivertinib, a novel EGFR/BTK inhibitor. The panel will include experts like Dr. Yi-long Wu and Dr. Brian S. Henick. This event underscores Sorrento's commitment to advancing cancer therapies and other innovative treatments. The discussion will be archived for future access on Sorrento's website.
Scilex Holding Company has pre-emptively repaid $67.7 million in Senior Secured Notes for approximately $39.7 million, eliminating a previous $28 million increase in principal. This strategic move is part of a broader initiative to manage debt effectively. Scilex, a majority-owned subsidiary of Sorrento Therapeutics, Inc. (Nasdaq: SRNE), focuses on non-opioid pain management products. The planned business combination with Vickers Vantage Corp. I is expected to close in the fourth quarter of 2022, pending shareholder approvals. Scilex aims to lead in pain management and is advancing multiple product candidates.
Sorrento Therapeutics (Nasdaq: SRNE) announced the completion of patient enrollment in its Phase 2 trial for RTX, targeting moderate-to-severe osteoarthritis knee pain (OAK), with a total of 120 participants. The trial has shown no limiting toxicities thus far, with long-term safety and efficacy being monitored. Initial efficacy data is expected by Q2 2023. Sorrento plans to meet with the FDA post-data availability to discuss next steps. RTX's potential as a non-opioid treatment places it in a significant market projected to exceed $10B by 2025.
Sorrento Therapeutics announced the publication of peer-reviewed data in Scientific Reports, detailing antibodies from its G-MAB™ library that show neutralizing activity against SARS-CoV-2 in both in vitro and in vivo studies. The research underscores Sorrento's commitment to developing therapies for COVID-19, alongside their ongoing projects targeting cancer and pain management. The findings are accessible through the provided link, showcasing Sorrento's innovative approach to combating viral infections and enhancing patient care.
Sorrento Therapeutics, Inc. (Nasdaq: SRNE) has successfully completed its first Phase 1b human proof of concept study using the Sofusa Lymphatic Drug Delivery System. In this study, 7 out of 7 patients who previously had inadequate responses to etanercept subcutaneous injections showed significant improvements in disease activity after switching to Sofusa, receiving only 50% of the standard dose. Results will be presented at the ACR Convergence 2022 Conference on November 13, 2022. The technology aims to enhance treatment efficacy for patients with autoimmune diseases.
Sorrento Therapeutics, Inc. (Nasdaq: SRNE) announced participation in the 20th Annual Morgan Stanley Global Healthcare Conference from September 12-14, 2022, in New York City. CEO Henry Ji and the executive team will present on September 14, 2022, at 8:00 am ET in a fireside chat format, along with individual investor meetings. The company focuses on developing therapies for cancer, pain, autoimmune diseases, and COVID-19, leveraging diverse platforms including next-generation TKIs and antiviral treatments. For more information, visit www.sorrentotherapeutics.com.
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